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Statistically Speaking

Communicating Uncertainty: How to better understand an estimate.

Mar 25, 2024
Experts Sir Robert Chote, Dr. Craig McLaren, and Professor Mairi Spowage discuss communicating uncertainty in statistics. They explore challenges in presenting statistics, interpreting economic data, estimating regional data, and navigating uncertainty in economic forecasting and international comparisons.
33:00

Podcast summary created with Snipd AI

Quick takeaways

  • Effective communication of statistical uncertainty is crucial for maintaining trust in estimates.
  • Balancing timeliness and accuracy in GDP estimates involves utilizing diverse data sources and reconciling different measures.

Deep dives

The Challenge of Communicating Uncertainty in Statistical Judgments

Statisticians face the challenge of effectively communicating the inherent uncertainty involved in statistical judgments. Important statistics are based on estimates which evolve over time based on different data sets. Presenting these uncertainties transparently is crucial to maintain trust in the statistics. Users of statistics need to understand the evolving nature of estimates and be cautious about interpreting numbers as definitive facts.

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